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, monetary easing measures. bank of japan and eight others agreed on it saying they. boj officials have previously made it a goal to bring 1% inflation within reach but the new, clearer target requires some bold steps. the document also addresses the role of the government in revitalizing japan's economy. it describes how politicians should promote growth and restore fiscal health. along with drafting the joint statement, boj officials have agreed to introduce open-ended asset purchasing. under a new program from january 2014 the central bank will purchase a certain amount of financial assets every month. no termination date is being set for the scheme. the new measure will expand the total size of the asset purchase program, or app, by about 10 trillion yen, or $110 billion, in 2014. the program is expected to be maintained in the future. following the meeting prime minister and revital minister reported on the release of the joint statement to prime minister abe at his office. >> translator: the government strongly hopes the bank of japan will a monetary easing policy in order to achi
% inflation target. it's included in the boj plan with the government. it's part of abe's plan to tackle deflation with bolder, monetary easing measures. bank of japan governor and eight other board members agreed on a policy at the end of a two-day meeting. the announcement says financial authorities will try to reach the target at their earliest possible time. boj officials have previously made it a goal to bring 1% inflation within reach but the new, clearer target requires some bold steps. the document also addresses the role of the government in revitalizing japan's economy. it describes how politicians should promote growth and restore fiscal health. along with drafting the joint statement, boj officials have agreed to introduce open-ended asset purchasing. under a new program from january 2014 the central bank will purchase a certain amount of financial assets every month. no termination date is being set for the scheme. the new measure will expand the total size of the asset purchase program, or app, by about 10 trillion yen, or $110 billion, in 2014. the program is expected to b
to be different, rather. first, it's not only a statement from the boj. second, i expect it to be much more agressive than previous statements. actually, these are both things that the prime minister shinzo abe has been asking repeatedly for. policymakers are set to give the prime minister what he's been pushing for in a joint statement with the government this afternoon, bank of japan officials are likely to announce a 2% inflation target. now, the target is part of abe's plan to tackle deflation with bullish monetary easing measures. >>> eight other board members will decide the policy together with the minister as the two days wrap up. they are still discussing the precise wording of the statement. the announcement will likely refer to a 2% inflation target. it will also say financial authorities will try to reach the target at an early stage. the document is also expected to clarify the role of the government in japan's economic reform, including how politicians will promote growth and fix fiscal health. boj officials are expected to agree at the meeting on fresh monetary easing measure
to be exchanged between the bank of japan and the government. the b.o.j. policy makers are to show in writing how they plan to achieve the target requested by prime minister shinzo abe. now, it's likely to be a joint statement and not a legally binding policy accord that abe had originally sought. the aim is to maintain the central bank's independence. b.o.j. policy makers are considering expanding their asset purchase program to inject more liquidity into the money markets. the current limit for buying government bonds and other assets is about $1.1 trillion. now, as the central bank and the government are moving toward closer collaboration, economic revitalization minister akira amari has decided to attend next week's b.o.j. meeting. amari is expected to inform the central bank that the government plans to do its best in achieving economic growth. it's also anticipated he may urge the central bank to work on bold measures for more monetary easing. generally, senior cabinet membs and not a minister attend the b.o.j. policy board meeting. more business headlines for you next hour. here's a check
's economic reform including how politicians will promote growth and fix fiscal health. boj officials are expected to agree at the meeting on fresh monetary easing measures. they announce similar moves last december. this will be first time in nearly a decade that the bank decides on such action at two consecutive meetings. now let's get a check on the markets. first looking at the stock market tokyo shares are trading higher this morning. trading is cautious ahead of the announcement from the boj policy meeting. the nikkei average is trading at a higher%. let's see what's happening on the currency market. the yen is little changed against other major currencies with investors refraining from aggressive betting. the against the yen is changing at 89.74 to 75. meanwhile euro against the yen is at 119.38 to 42. mark players say all eyes are on what kind of bold measures the central bank can come up with if it's two achieve the 2% inflation market. investors expect trading to be volatile following the government and boj announcement. south korea's kospi flat pretty much. 19 1,9 1,986. we
. did the boj not fully deliver here? >> i don't think so. i don't think that's the right interpretation at all. i think this was an exercise in showing that the government and the bank of japan, the central bank are on the same page. they certainly delivered that. i think the fact that it's an open-ended asset purchase program, it was more than what the markets had been factoring in. i think the dollar/yen moves are sort of moving independently right now. and i think a lot of that has to do with the comments that we had from government saying, oh, we're not trying to manipulate the currency, which throws into question this competitive devaluation story they were banking on. instead of being explicit about that over the last couple of weeks, now they're going to have to be a little bit more implicit about that. but the man of the hour, mr. shiraka shirakawa, the bank of japan, here is what he had to say. >> translator: japan believes growth is important. we teamed up with the dwoft to strengthen our policies and work on this goal together as one. >> let's take a look at the technicals ab
is very likely to keep pressuring on the boj. nominations for boj governor is likely that candidates are appointed. the risk is the debt ceiling negotiation in the u.s. during february. we think that u.s. congres will not reach an agreement to derail the u.s. economic recovery. it should be temporary and limited. >> the yen is weaker against the euro. that's on similar expectations for more monetary easing pressures from the bank of japan. the euro quoted at 120.4 to 1. the euro has gained ground against the yen and the dollar. analysts say that's due to worries over with the euro zone. let's see how this is affecting tokyo stocks. share prices surging across the board. nikkei at 10,828. a gain of over 2% from thursday's close. buying was prompted by more optimistic views about the u.s. economic recovery following strong housing data. let's look at other markets open in the asia pacific. over in australia the benchmark index is trading hie ining high. positive moves so far. tokyo is leading >> on japan clearly that sort of recently announced fiscal and monetary package is intended to
the q1 sales. in japan, boj had easing. fuel engaging exporters. sony shares had a tall percent today and the nikkei 225 jumped nearly 3% to hit a 32-month high and managed to log its tenth straight weekly gain. elsewhere, a rebound in technology shares in financials sent south korea's kospi higher by .7%. and down under, solid china data helped the aussie market close at a 20-month high. rio at this pointo shares jumped after appointing a new ceo. back to you. >> sixuan, thank you very much for that. interesting to see that increase in rio shares. yesterday, ross pointed out that it was really a corporate story driven market. today, there's a few more macro concerns but for the most part we're seeing major indexes in europe higher. the xetra dax just ticked lower. i want to show the ibex here, adding about 1.06% today. we did learn that bad loans in banks rose in december up from what was expected. that was 11.4% in november versus 11.2% in october. so an increase there in what we know was not a great month for the european economy. the ftse 100 over here up by about 0.2%. take a loo
the bank of japan announcements. market players see the outcome of the b.o.j. policy meeting as within market expectations. taking a look at the euro against the yen, that's quoted at 118.29-32. let's take a look at stocks now. tokyo share prices are lower. as the yen is gaining ground. the nikkei average trading at 10,651. that is a loss of a little over half a percent from tuesday's close. market sources say investors are selling many stocks but especially export-related issues, and that is due to the yen's strength as well as the fact that the b.o.j.'s measures were almost as anticipated. okay. in other asian markets we are seeing seoul regain that 2,000 level. it is up by 1/5 of a percent at the moment. taking a look at australia, the benchmark index is trading higher by a third of a percent at 4,794. >>> well, the japanese government plans to help the ship-building industry in the northeast region which was hit by the march 2011 disaster. the government plans to subsidize ship builders when they jointly build facilities such as dry docks. the subsidies will cover 2/3 of the cost.
. investors pulling back in japan as the boj begins its two-day meeting that's widely expected to back more easing and a new 2% inflation target. >>> and heavy snow bringing travel across northern europe. hundreds of flights canceled here in the uk. france and germany, too, with disruptions expected to continue for several days. >> yes. welcome to "worldwide exchange." ross westgate is away. he will be back later in the week from davos and along with plenty of other people and a lot of great guests. it's a three-hour program. the first three hours, i think the third you'll have to flip over to cnbc to catch. we will be heading out to washington as the capital prepares for the inauguration of president barack obama. but will he spend the next four years at the mercy of republicans? we'll explore that. plus, we'll assess if israel could be medicining for a right coalition as benjamin netanyahu says he is prepared to work with the naturalist home. and we'll take a look at travel chaos across the continent as snow and freezing conditions cause plenty of disruption in the air and on the road. no
's opinion that the boj should ease more aggressively. the current boj governor ends his tenure in april. the meeting didn't cover possible candidates yesterday, but abe has been saying that he wants a boj chief more in line with his views. the economic minister suggested that the next governor should be open to mormon tear easing. so when the boj meets next week, it's expected to roll out more measures and reach a new inflation agreement with the government. back to you, kelly. >> fushiko, thank you very much for that. japan, meanwhile, saying it's going to, as we've just learned, issue more than 5 trillion yen in new bonds to finance more stimulus. >> yeah. meanwhile, toyota can start producing its prius model in north america. that's what the head of toyota operations have been telling cnbc. the hybrid has been selling well. the news comes, as well, that the carmaker regains the crown as the world's best selling car company. it sold 9.7 million vehicles compared to gm's 9.3 million last year. and at 11:30 cet we'll be in detroit for the latest on the auto show plus analysis with jerem
against the yen. we're seeing a pause in yen selling as the outcome of the latest boj policy meeting provided little market direction. dollar/yen at 88.29. we're seeing the euro is weaker against the yen. euyou're 0/yen at 117.79. >>> the labor union for japan's regional government workers is calling for the withdrawal of the central government's plan to reduce tax grants. the state government wants to cut local tax grants from fiscal 2013 starting this april. it's partly designed to slash regional government workers' wages by an average of 7.8%. the chairman of the all-japan precede tech furl and municipal workers union told reporters wednesday the plan is unacceptable. >> translator: this one-sided policy that the state is going to implement unilaterally has been drafted by skipping all the labor management negotiations. >> tokanaba said local governments are striving to cut workers to deal with the shortage of funds even though they're faced with more tasks in the their everyday work. he said they include social security issues and environmental protection measures. tokanaga added
took center stage in asia. december cpi came in at minus 0.2% piling more pressure on the boj to beat deflation and eventually meet that 2% inflation target. the boj jumped nearly 3% and it's up for the 11th straight week. that's the longest winning streak in about 42 years. the japanese yen weakened to a fresh 2 1/2 year low against the green back. that's fueled a strong rally in exporter stocks. shares in china gave back strong gains earlier ending down by 0.5%. chinese stocks led losses of prot taking after north korea warned us more rocket launches and a nuclear test. the weakness in the mainland dragged the hang seng lower by just a touch. china mobile shares slipped for the fifth straight sessions. elsewhere, south korea shares pulled back for the third straight session, down almost 1% today. suppliers, they continued to tumble. samsung electronics lost 2.5% despite record earnings. it also announced a cautious cap ex plan for the first time since the global financial crisis. meanwhile, kia motor fell almost 5% today, to a more than two-yee low after the rising won took a bite o
today. shinzo abe used his first policy speech to high lie the importance for the boj to reach the 2% inflation target after new cabinets raised the country's growth outlook from 2.5% from april. but the nikkei saw some profit taking after touching a fresh 32-month high. caution over domestic earnings weighed on sentiment. toyota didn't get a let, but sony shared dumped 9% after citigroup raised the country's ratings to a buy from neutral. but look at the shanghai composite, a 2.4% jump. this after data shows processing, industrial companies climbed more than 17% in december from a year ago. brokerages rallied after the shanghai and shenzhen bourses said they were nearly double the scale for margin trading. vol vo agreed to buy a 45% stake in its commercial vehicle unit. meanwhile, shares in hong kong gained a modest 0.4%. but china's costco's h share split about 5% after after the shipping giant warned a second straight year of significant loss due to freight rates. the kospi extended it's four-day losing streak. automakers dragged tin decks low. australia's asx 200 is out for a pub
on the boj to achieve 2% inflation target. if the boj does indeed work in that direction, then i think this is really the last opportunity for japan to -- to really step back from the abyss of an unforeseeable pile of debt. and i think they're moving in that direction. the longer shinzo abe can keep the pressure on and get the right policies in place, the better it is for japan. evidence shows, in fact, that if japan achieves positive inflation, you get a sharp improvement in the primary fiscal balance, primary fiscal deficit moderated to gdp in the second period. it's possible for japan to do that. if they really aim towards getting nominal gdp growth and at a proper inflation target of 2%. >> yeah. he also would say the nikkei was wording whether the bank of japan should consider maximizing employment as a policy goal and sort of adopting the fed there. we saw the yen result. is that sustainable? and if the yen continues to weaken more, i would imagine that would make you more bullish on japanese equities. >> oh, yeah, it makes me bullish about japanese equities and asian equities. t
. the nikkei snapped a two-day losing streak ending .7% higher. talk as the boj set to ease its monetary policy this month by boosting its asset purchase program. after a brief pause yesterday the yen weakened against the u.s. dollar again today fueling automakers and other exporter stocks. >>> elsewhere, the shanghai finished flat as investors remained cautious ahead of trade and cip data due out. reports that more property curves will be made itted to tame rising housing prices. agricultural stocks surged on expectations that beijing's urban growth plan will support food production. in hong kong, the hang seng rebounded half a percent from the lowest level in the week. mainly banks gained momentum after ubs upgraded icbc. concerns over q4 earnings sent the kospi lower by .3%. the fifth straight day of losses for south korean shares. i.t. stocks and development ralliers pushed higher .4%. lastly, india's sensex in action, trading a touch below the line. back to you. >> all right. thanks, catch you later. >>> as we head to break, you should head over to our web site to find out why a number of
by keynesian counterfeiters, shinzo abe grabs the boj and says print 1 million yen and over to europe mario draghi says he'll do whatever it takes to make sure bond yields never rise and greece, the stock exchange is up 33%. and ben bernanke says he's going to keep printing $1 trillion every year until the unemployment rate drops to 6.5% which will never happen unless everybody drops out of workforce so you have to go long here and you have 45 days of cover until we hit the fiscal canyon but they kick that or punt that one down the field again, and we'll have a pretty good year in nominal terms. >> okay. watch out, middle class though. don't go fill up your gas tank. >> michael farr, 45 days, do you agree or jump on here and say you don't fight the fed or don't fight any of these central banks. >> you don't fight the fed, you don't fight the central banks, and i think a shameful result for congress, a shameful result for america in the fiscal cliff that's turned into a fiscal farce, but i think it has all of the sign posts as to a very strong market. because, look, basically you -- the midd
is says changed? expectations have changed, we're expecting great thing from the boj from the new government. but what about delivery? i mean, that's what politics means for markets. what are they going to deliver. boj, new inflation targeted 2%. they haven't even hit 1%. why are we talking about 2%? they're not going do things radical like foreign bond buying. at the end of the day you'll be back in japan, same situation as six months ago. they're printing more money. that's never weakened the yen on a sustained basis. i think these are levels not today, not this week where we should be looking to sell dollar/yen and looking to sell some yen crosses again. >> all right. thank you very much. strategist and director at hsbc. thomas, a final thought from you, as well. you think politics will dominated. no problem for asset managers. it's hard to quantify into asset prices. what's the biggest political risk for you, the standout one that you -- may not be essential forecast but the thing that may upset the apple cart most? >> i think it continues to be the eurozone. and the main one
. in the meantime, the finance minister said that the government wants to have a written agreement with the boj on policy goals mainly focusing on the price stability target. the government wants the central bank to adopt a 2% inflation goal. aso says the government will use its foreign reverses to buy bonds to help weaken the yen. he said that the purchase starts today, but the amount is undecided. back to you, kelly. >> thank you very much for that. let's take a quick look at the agenda in asia tomorrow. it's a busy day. we'll get retail sales figures for australia. and staying with retail, japan's chain store lawson will look to match earnings of seven and pi. >>> the bank of thailand is expected to hold rates at 2.75% when it meets to decide policy. >>> and still to come on the show, will china's economic recovery continue? big exporters like australia sure hope so. >> we'll take a look. what are you doing? nothing. are you stealing our daughter's school supplies and taking them to work? no, i was just looking for my stapler and my... this thing. i save money by using fedex ground and buy m
is the bank of india. >>> and the boj is keeping tune rate until there's a significant drop in unloimt. >>> and ahead of today's parliamentary hearing, italy's economic mip sister takes grilli takes center stage. >>> all right. reunited. back together. >> so nice. >> you know that song? >> i sang that to you the last time. we've had a couple of reunions and a series of time spent apart. >> how are things sthp. >> they are great here. how was davos? >> so far, gone, in the distant memory. don't worry about it for another year. plenty to worry about today, though. >> korea. >> on today's show, plenty of good stuff coming up. we're going to be in madrid as the prime minister is reportedly releasing a plan to relief some of the pain of austerity. >> then it's south korean steel giant posco reporting quarterly earnings today. we'll have the latest live from seoul at 10:15. and it's day one of the fomc meeting. economists are awaiting more clues from the stimulus program. we'll be live in new york about 11:00 central european time. before that, we're going to head out to mumbai as the rbi cu
squeezing it higher here? >> i think it's basically pocket taking. the boj needs to deliver everything on point. the decisions begin to open in 2014. it wasn't enough for the markets. you're seeing profit taking. you're also seeing u.s. yields under pressure overall. that's weighing on dollar/yen. these two point factors is causing a bit of a pullback in the currency. i don't think that's the up trend -- i don't think the up trend is over. we still have over the boj to bring in a new governor that is going to be a bit more aggressive. as we go to the april nominations, that could lead to a little bit more yen weakness. on top of that, re haven't seen the pullback in the trades as much as you would think after such a big move. i think fundamentally we're potentially headed higher in dollar zsh yen. >> we're back to levels we saw back in may. we basically unwound the entire trade that resulted from people entering the trade probably in the fall, to now. so at what level would you go back in? >> i think you need to give a little more room to downside before going in. around 86 is a good v
target for the time being and i think now is the time for the market to see if the boj is going to put up or shut up in terms of being support to support this exchange rate. to me at this point, maybe we have another penny more on the upside. but if we get any kind of a wobble. any type of negative news, especially out of the u.s. data, because i think it's the u.s. data that's kind of driving this whole supposition. that the u.s. is going to pull everybody else forward we could come in for a little bit of profit taking. to me the trade may be to the short side or to the long side for dollar/yen. >> it really is what's happening here in the u.s., even that's dictating what's going on with the yen. >> exactly. >> -- thought. >> today is really going to be an interesting data point because if we get positive momentum out of the u.s. consumer i think you see this rally continue. but if the u.s. consumer pulls back because of the payroll tax increase you may have to use that as essentially an excuse to take some profits into the weekend. to me that's going to be the big event of the day. >> k
$224. a bay says the measures are intended to add 22% to japan's economic growth. he's urging the boj to move more aggressively to encourage lending and meet the clear inflation target. in china, a food price spike pushed inflation to a seven-month high. analysts say that the latest sign that the world's second economy is finally snapping out of its largest down turn. we call it a downturn. >>> let's get a check on the markets this morning. we've showed you a mix. s&p futures down by .5%. and the s&p 500 is down 1.5 points. dow futures are down about 11.5 points. yesterday was the first time in three days that you saw the major averages. the dow was up by about 80 points. you also saw some big gains. you know what? i'm taking a look at numbers from two days ago. yesterday, the market was up by 80 points. >> dwrur right. >> and a row of gains which is why we've pushed back to these highest levels we've seen in five years. also, take a look at what is happening in europe right now. you're going to see in london, the ftse is slightly higher as is the dax in germany. france, the cac is sl
>>> good morning. earnings, earnings, earnings. the boj tries to give scar pan another shot in the arm. it is tuesday, january 22nd, 2013. "squawk box" begins right now. >> good morning, everybody. welcome to "squawk box" here on cnbc. i'm becky quick along with joe kernen. andrew ross sorkin is on assignment. he is traveling to the world economic forum in davos, switzerland. and he will join us live from there starting tomorrow. there's a lot of big guests lined up. could be a lot of fun. earnings central is in full swing today. among the names that are reporting before the bell, we have dupont, johnson & johnson, travelers and verizon. four dow components before the bell even rings. our newsmaker this morning is dupont's ceo coming out want 8:00 eastern time. after the bell, technology takes center stage. we will hear from google, texas instruments and amd among others. >> and friday, the 49% mothership and it was good. revenues above expectations. and also a little beat on the bottom line, but a lot of the different business segments doing well. all clicking and stock was
Search Results 0 to 27 of about 28 (some duplicates have been removed)